AI chip firm Cerebras raises $1.1 billion, adds Trump-linked 1789 Capital as investor

Cerebras Systems, a Silicon Valley startup aiming to take on Nvidia by producing a dinner-plate-sized AI computing chip, on Tuesday said it raised $1.1 billion and added 1789 Capital, the venture firm where Donald Trump Jr is a partner, as an investor.

Cerebras said the funding round, which was led by Fidelity Management & Research Co and Atreides Management, brings the company’s valuation to $8.1 billion.

The deal added investors Tiger Global, Valor Equity Partners and 1789 Capital, the fund where President Donald Trump’s son is a partner. Cerebras…